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$899,900
Est. payment /mo
10 Baths
0.61 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Monroe City
Subdivision Monroe City
MLS Listing ID 50180653
Year Built 1883
Lot Size 0.610 Acres
Acres 0.61
Lot Dimensions 128x209
Source MiRealSource
Property Description
Rare investment opportunity! This fully occupied 10-unit apartment property spans four distinct buildings on a single lot, ideally located at the corner of E Front St and Kentucky Ave. Just steps from a park and tennis courts. Built in 1883 and thoughtfully updated, the property offers a mix of 1, 2, and 3-bedroom units, all with 1 bathroom, plus a shared coin-operated laundry. Recent renovations include new roofing, luxury vinyl plank flooring, updated water heaters, key-code entry locks, and interior upgrades throughout most units. Tenants are on one-year leases, with a strong rental history and consistent on-time payments. Current gross income is approx. $116,000/year (including laundry) with a pro forma potential of $121,000/year. Estimated annual expenses are approx. $26,000, with a c
Location
State MI
County Monroe
Area Monroe County - 60
Interior
Heating Forced Air
Exterior
View Y/N No
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by eXp Realty LLC in Monroe